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Anyone not interested in Terayon's Shaw and Rogers' transactions, read no further.
From a recent filing:
new.edgar-online.com
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CERTAIN TRANSACTIONS
In April 1998, the Company issued to Shaw a warrant ("Anti-dilution Warrant") to purchase an indeterminate number of shares of Common Stock for an aggregate price of $0.50. The Anti-dilution Warrant is exercisable from time to
time when the Company issues certain new equity securities until the date upon which Shaw ceases to own shares of the Company's Common Stock. As of December 31, 1999, Shaw had the right to receive 72,318 shares pursuant to the Anti-
dilution Warrant. In April 1998, the Company issued to Shaw a warrant (the "Shaw Common Stock Warrant") to purchase 6,000,000 shares of Common Stock at an exercise price of $3.25 per share. In March 1999, Shaw acquired 3,000,000
shares of the Company's Common Stock at $3.25 per share, pursuant to thepartial exercise of the Shaw Common Stock Warrant. The net value realized (the difference between the exercise price and the fair market value of such shares,
based on the closing sales price reported on the Nasdaq National Market on the date of the sale) was $47,062,500. In November 1999, Shaw acquired 3,000,000 shares of the Company's Common Stock at $3.25 per share, pursuant to the
partial exercise of the Shaw Common Stock Warrant. The net value realized (the difference between the exercise price and the fair market value of such shares, based on the closing sales price reported on the Nasdaq National Market on the date of the sale) was $81,000,000. Michael D'Avella, a director of the Company, is the Senior Vice President of Planning for Shaw.
During the fiscal year ended December 31, 1999, Shaw's purchases of equipment and services from the Company accounted for approximately $22,844,000 worth of the Company's revenues. Michael D'Avella, a director of the Company, is the Senior Vice President of Planning for Shaw.
In March 1999, the Company issued Rogers a warrant (the "Common Stock Warrant") to purchase 2,000,000 shares of Common Stock at $0.50 per share, and the Company issued Rogers a warrant (the "Rogers Common Stock Warrant") to
purchase 2,000,000 shares of Common Stock at an exercise price of $18.50 per share. In March 2000, Rogers acquired 1,843,808 shares of the Company's Common Stock at $0.50 per share, pursuant to the net exercise of the Common Stock
Warrant. The net value realized (the difference between the exercise price and the fair market value of such shares, based on the closing sales price reported on the Nasdaq National Market on the date of the sale) was $242,460,752. In March 2000, Rogers acquired 1,843,810 shares of the Company's Common Stock at $18.50 per share, pursuant to the net exercise of the Rogers Common Stock Warrant. The net value realized (the difference between the exercise price and the fair market value of such shares, based on the closing sales price reported on the Nasdaq National Market on the date of the sale) was $209,272,435. Mr. Krstajic, a director of the Company, is the Senior Vice President Interactive Services, Sales and Product Development for Rogers Communications, Inc.
During the fiscal year ended December 31, 1999, Rogers' purchases of equipment and services from the Company accounted for approximately $16,820,000 worth of the Company's revenues, along with deferred revenues in the amount of $4,500,000 as of December 31, 1999. Mr. Krstajic, a director of the Company, is the Senior Vice President Interactive Services, Sales and Product Development
for Rogers Communications, Inc. The Company has granted options to certain of its directors and executive officers.
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